Israel: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, March 17, 2003
Source details
- Canonical URL
- Israel: Staff Report for the 2002 Article IV Consultation
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Bibliographic details
- Published: March 17, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451819489.002
Economic overview and main findings
- The Israeli economy is "in the midst of a deep recession."
- Waning exports and investment, combined with stagnant private consumption, led to negative growth in 2001 and 2002.
- Recent indicators suggested that economic activity is stabilizing, but "there are no signs of recovery in sight."
Causes of the downturn (as identified in the report)
- The burst of the technology bubble.
- The global slowdown.
- The deterioration in the security situation.
Structural developments and policy actions
- The government has pushed forward a broad-based tax reform.
- The government introduced some labor market reform measures.
Subject coverage and keywords (as listed)
- Subjects: Banking, Expenditure, External debt, Financial services, Inflation, Prices, Public debt, Real interest rates
- Keywords: CR, deficit, deficit target, expenditure adjustment, finance minister, GDP ratio, Global, government, Inflation, ISCR, Real interest rates, staff appraisal